Some of the advantages offered by a typical network-based commerce facility, such as an Internet-based auction facility, are the simplicity, promptness and convenience of participating in the online trading process. Conducting transactions (e.g., using an auction process facilitated by a network-based commerce facility) has become very popular. Demands for using the network-based commerce facility to transact business between private parties have increased drastically.
Many private parties have seen this as an opportunity to participate in online trading both for the sale of items they own, as well as the acquisition of items that interest them. One of the problems associated with online commerce is the monetary satisfaction to both parties. These problems are somewhat overcome with credit cards issued by banking institutions. Before the advent of these types of financial devices society operated on a much more personal basis. In addition to providing financial means to people for the purchase of items necessary for their existence, it also allowed for greater community connectivity. This is lacking in the impersonal transaction where a credit card is used. A direct interaction between two parties is cumbersome and requires trust between users. It also requires a large amount of communications to enable the users to come to lending terms that are amenable to both parties.
What are needed are systems and methods that facilitate an interaction between two or more parties for the purposes of one or more parties lending money to the another.